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Ambarella (NASDAQ:AMBA) shares dropped 1.8% during trading on Tuesday following insider selling activity, StockRatingsNetwork reports. The stock traded as low as $32.16 and last traded at $32.47, with a volume of 1,112,306 shares traded. The stock had previously closed at $33.07.

Specifically, Insider Leslie Kohn sold 20,000 shares of the company’s stock on the open market in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.00, for a total transaction of $640,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Ambarella in a research note on Wednesday, June 4th. They now have a $27.00 price target on the stock, down previously from $32.00. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Ambarella presently has an average rating of “Buy” and an average price target of $28.71.

The stock’s 50-day moving average is $29.95 and its 200-day moving average is $28.46. The company has a market cap of $966.4 million and a P/E ratio of 38.81.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Tuesday, June 3rd. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.04. The company had revenue of $40.90 million for the quarter, compared to the consensus estimate of $40.00 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, analysts predict that Ambarella will post $1.17 earnings per share for the current fiscal year.

Ambarella, Inc is a developer of semiconductor processing solutions for video that enable high-definition (NASDAQ:AMBA), video capture, sharing and display.

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